Residents should beware of easy money loans from unlicensed, out-of-state lenders promising fast money for holiday shopping.
According to the Pennsylvania Department of Banking and Securities, these payday loans or car title loans usually range from $100 to $1,000 while demanding 300 to 1,000 annual percent interest. This practice is unlawful in Pennsylvania.
Alternatives to these loans include short-term loans from a bank or credit union as well as a payroll advance from an employer or negotiating with creditors.
Learn more about the risks of easy money loans by clicking here.
The post State Officials Warn Of ‘Easy Money’ Loans appeared first on Inside Butler County – Butler, PA.
